The Term ________ Was Coined by O'Reilly Media in 2004

question 59

Essay

The term ________ was coined by O'Reilly Media in 2004 to refer to a supposed second generation of Internet-based services that let people collaborate and share information online in new ways,such as social networking and wikis.

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Definitions:

Manufacturing Cost

This encompasses the total expenses related to producing goods, including costs for materials, labor, and overhead.

Absorption Costing

A costing technique encompassing all expenses tied to production, including direct materials, direct labor, along with variable and fixed overhead costs, as part of a product's cost.

Variable Costing

An accounting approach where only variable costs are included in the cost of goods sold and fixed overhead costs are treated as period expenses.

Income Statement

A financial statement that shows a company's revenues, expenses, and net income over a specific period.